@mbf I absolutely agree with you but there's another side to all...

@mbf I absolutely agree with you but there's another side to all this. The VMC board is either really short-sighted or thinks they are 10 ft tall and bulletproof (maybe both). Why? By taking two highly respected brokers (DB & PA) to Court, they've stepped over the line. The finance & broking game in Australia is a very close and well-connected group, I doubt too many people are impressed?

VMC did a great job getting their Company to this stage but instead of holding out the hand of friendship they're trying to slide the asset out from underneath SPX (which precedents show won't happen). My theory is that VMC is running a smokescreen because they failed to close the deal originally and their newer investors (particularly their top 20 SH) are now asking why? It's always convenient to blame someone else and a growing trend in society today regardless.

SPX paid A$1 million in cash and shares (15% of the company) for PW - would VMC have been prepared to match the deal? To do so would have resulted in the PW vendors owning >5% of VMC and making them the second-largest shareholder; given the make of VMCs top 10, it seems unlikely.

IMO VMC has committed Corporate Suicide (I know, big call) but, how are they going to raise money going forward? Who would trust them? Who would deal with them? I have to tell you if I were the team at RXL I'd be making sure their JV and acquisition agreements with VMC were absolutely air-tight because these guys have shown their true colours and are not to be trusted. It's my opinion that RXL got an amazing deal on Youanmi and in time the VMC SH will be pissed off with that outcome too!

Anyway, just my 2c worth.